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Q: WHAT HAPPENS TO MY OFFER?
A: Your offer will be presented to the seller as soon as possible, by the agent that listed the property.
Q: WHAT IF THEY DO NOT ACCEPT MY OFFER?
A: If the seller does not accept your offer, 1 of 2 situations arise. The seller may make a counter-offer if your first offer is within reason. If this happens, the agent will notify you of the counter-offer. If the seller does not make a counter-offer, it is then up to you to make another offer or withdraw from purchasing the home.
Q: WHAT HAPPENS IF SOMEONE ELSE SUBMITS AN OFFER ON THE PROPERTY BEFORE MINE IS ACCEPTED OR REJECTED?
A: Massachusetts’s law requires that all offers be presented to the seller. If the seller has not signed your offer and another is submitted, it must also be presented to the seller.
Q: WILL I BE NOTIFIED IF ANOTHER OFFER IS SUBMITTED?
A: Yes. However, you will not be informed of the price or terms of the offer. The other buyer will not be told price or terms of your offer either.
Q: DOESN’T THE SELLER HAVE TO CONSIDER MY OFFER FIRST IF IT WERE SUBMITTED FIRST?
A: The seller does not have to consider your offer first. He may accept any offer he chooses.
Q: WHAT ABOUT COUNTER-OFFERS WHEN MORE THAN ONE OFFER HAS BEEN SUBMITTED?
A: If the seller decides to make a counter-offer, he may make the offer to one or more buyers.
Q: CAN I GO HIGHER THAN THE COUNTER-OFFER OR ASKING PRICE?
A: Yes. Until the offer is accepted, the property is still on the market and all offers must be presented the seller.
Q: MUST THE SELLER ACCEPT AN OFFER THAT MEETS THE PRICE AND TERMS OF THE LISTING?
A: No. Our attorney advises us that the seller is making invitation to negotiate a sale on his property, but is not bound to accept an offer.
SUMMARY
The listing agent is acting as an agent of the seller. However, all decisions regarding the sale of the property and the terms are made by the seller.
